The construction sector in Wales is set to grow 3.4% annually between now and 2018, according to the national training organisation for construction in the UK.
First Minister Carwyn Jones said this proved the Welsh Government’s determination to build Wales out of the recession by investing in infrastructure, supporting Welsh businesses and selling Wales to the world was having a real impact.
The Welsh Government’s Final Budget published in December provided new investment totalling £657.5 million to support Wales Infrastructure Investment Plan priorities including transport, housing and flood defences.
This includes nearly £175 million for Help to Buy Cymru which will support the development of 5,000 new homes and create a total investment of over £800 million.
Another £200 million boost for the Welsh school building programme will create or support 23,000 jobs across varied sectors of the economy.
The First Minister said: “Building Wales out of the worst economic recession seen for generations has been and continues to be this government’s top priority. Our actions are clearly working – with the construction industry in Wales now outperforming the rest of the UK.”
“In addition to providing a substantial boost to the construction sector, I am determined to ensure the economic recovery in Wales benefits the many, not the few.
“Our innovative community benefits approach to public procurement is paying huge dividends, with local businesses and local people benefiting hugely from our determination to ensure every Welsh pound available directly benefits Welsh people, Welsh business and Welsh communities.”